Tapestry, Inc. $TPR Shares Bought by New Vernon Capital Holdings II LLC

New Vernon Capital Holdings II LLC increased its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 6,359.5% in the first quarter, Holdings Channel reports. The firm owned 407,463 shares of the luxury accessories retailer’s stock after buying an additional 401,155 shares during the period. Tapestry comprises 0.1% of New Vernon Capital Holdings II LLC’s investment portfolio, making the stock its 28th largest holding. New Vernon Capital Holdings II LLC’s holdings in Tapestry were worth $28,689,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of TPR. China Universal Asset Management Co. Ltd. purchased a new position in Tapestry during the first quarter worth about $1,708,000. Curat Global LLC acquired a new position in shares of Tapestry in the 1st quarter worth approximately $382,000. Nisa Investment Advisors LLC boosted its position in shares of Tapestry by 16.7% during the 1st quarter. Nisa Investment Advisors LLC now owns 63,342 shares of the luxury accessories retailer’s stock worth $4,460,000 after purchasing an additional 9,049 shares during the period. Jump Financial LLC boosted its position in shares of Tapestry by 1,025.9% during the 1st quarter. Jump Financial LLC now owns 79,702 shares of the luxury accessories retailer’s stock worth $5,612,000 after purchasing an additional 72,623 shares during the period. Finally, Allworth Financial LP increased its holdings in Tapestry by 689.0% in the 1st quarter. Allworth Financial LP now owns 13,374 shares of the luxury accessories retailer’s stock valued at $913,000 after purchasing an additional 11,679 shares during the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on TPR. Sanford C. Bernstein restated an “outperform” rating and set a $112.00 price target on shares of Tapestry in a research note on Friday, August 15th. Barclays reaffirmed an “overweight” rating and issued a $105.00 target price (up from $98.00) on shares of Tapestry in a research report on Friday, July 11th. Wall Street Zen raised shares of Tapestry from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 22nd. Morgan Stanley lifted their price objective on shares of Tapestry from $90.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Finally, Argus upped their target price on shares of Tapestry from $78.00 to $92.00 and gave the stock a “buy” rating in a research note on Tuesday, June 17th. Seventeen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Tapestry has an average rating of “Moderate Buy” and a consensus target price of $105.47.

Tapestry Stock Performance

Shares of Tapestry stock opened at $105.60 on Friday. The business has a 50-day simple moving average of $101.81 and a 200-day simple moving average of $84.75. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.31 and a current ratio of 1.87. Tapestry, Inc. has a one year low of $40.08 and a one year high of $114.05. The company has a market cap of $21.98 billion, a PE ratio of 167.63, a P/E/G ratio of 2.63 and a beta of 1.52.

Tapestry (NYSE:TPR) last issued its earnings results on Thursday, August 14th. The luxury accessories retailer reported $1.04 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.02. Tapestry had a net margin of 2.61% and a return on equity of 68.02%. The firm had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter last year, the company earned $0.92 earnings per share. The firm’s revenue was up 8.3% compared to the same quarter last year. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. On average, equities research analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 22nd. Stockholders of record on Friday, September 5th will be given a dividend of $0.40 per share. This is an increase from Tapestry’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.60 annualized dividend and a dividend yield of 1.5%. Tapestry’s dividend payout ratio is presently 222.22%.

Insider Activity at Tapestry

In related news, VP Manesh Dadlani sold 7,882 shares of the business’s stock in a transaction on Monday, August 25th. The shares were sold at an average price of $99.05, for a total transaction of $780,712.10. Following the completion of the transaction, the vice president owned 21,098 shares in the company, valued at approximately $2,089,756.90. The trade was a 27.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.18% of the company’s stock.

Tapestry Company Profile

Tapestry, Inc provides luxury accessories and branded lifestyle products in the United States, Japan, Greater China, and internationally. The company operates in three segments: Coach, Kate Spade, and Stuart Weitzman. It offers women’s handbags; and women’s accessories, such as small leather goods which includes mini and micro handbags, money pieces, wristlets, pouches, and cosmetic cases, as well as novelty accessories including address books, time management and travel accessories, sketchbooks, and portfolios; and belts, key rings, and charms.